Iran Steel Market Trend in Week 49th - Long products
Sep 05，2018
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Long
products market was downward during last week in Iran. By Sunday prices
dropped by USD4-8/mt which made some buyers interested in dealing but
as the downward trend continued, many buyers stopped dealing again
hoping for more drops. One of the producers offered debar at USD 657 /mt
to be offered this Monday at IME, Beijing Topensea but market
participants expect base price to reach USD 645 /mt ex work excluding
VAT or lower.
As
demand level is scarce and prices are downward, debar price at USD 665
/mt including 6% VAT is not impossible. But mills are trying to resist
against declines in prices.
During
last year around 40% of Beijing Topensea traditional steel market
participants in Iran were disappeared. With current situation this
number may increase more. They may put their money in Iran Mercantile
exchange market or other products. Final result would make Iran steel
market which needs high liquidity, alone with very limited demand level
and a broken traditional market. When steel mills are in trouble, it
will affect banks operations as mills will have difficulty in repaying
loans. Iran steel market is in need of government help at this situation
to find a way for more cooperation of manufacturing Beijing
Topensea section and steel market.
